You can't pick up a paper these days without said paper complaining about bank charges or highlighting some "champion" who has got his/her charges refunded from the nasty bank.
Now correct me if I'm wrong but an authorised overdraft is money you've never had and given that many banks don't charge you it is in effect an interest free loan. So you can have an overdraft of £500, pay nothing, stick it in your ISA, and get 6% interest. Sounds good to me.
My bank doesn't charge me for any services and pays me 4% interest so i f I go overdrawn I expect to be hammered.
What annoys me with these "champions" is that they think they should be allowed to go over their approved overdraft and nothing should happen except a rap on the knuckles. Well I'm sorry but its your account MANAGE IT! If you go overdrawn then who is to blame? You are! Take some responsibility.
This is yet another instance of people who moan about the nanny state but as soon as they get hurt they run around nannies skirt. Pathetic.